The question “Does the government work for you or do you work for the government?” is a question often asked by Judge Andrew Napolitano when he had his Fox News program. Well, the author of Free-Man’s Perspective has found a mathematical answer to the Judge’s question. He came across a formula in a court case which is used to determine the monetary value of human capital. In other words, it calculates the dollar value of human life. The formula is used by the courts to calculate awards for personal injury cases. The author decided he could use that approach to calculate the cost of government in terms of human lives. He said:
Think of this as a currency conversion: dollars-to-lives, rather than the usual dollars-to-euros ordollars-to-yen.
He then took the follow data from government sources from the years 2008 to 2010 and used government spending for 2010:
Average per capita income: $39,138
Average number of working years: 40
Per capita lifetime income (income times years) = $1.5655 million
Total US government spending: $3.55 trillion
Then it was just a simple matter of dividing government annual spending by the life-time earnings and he found that the federal government spends the equivalent of the life-time earnings of
2.27 million people annually
So, I guess Judge Napalitano can stop asking that question. We have the definitive answer. We work for the government!
Well, that’s what I’m thinking. What are your thoughts?